metamaterials tesla merger

Often but not always, forward-looking information can be identified by the use of words such as expect, intends, anticipated, believes or variations (including negative variations) of such words and phrases, or state that certain actions, events or results may, could, would or will be taken, occur or be achieved. Looking forward to March 12th. I have no preference for sectors or countries - I'm as comfortable owning a part of a cement miner in Peru as holding shares in a wheat farming firm in Bulgaria. Torchlight's stock rose as high as 74% last Monday as retail investors piled into the stock with record volumes. A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. "We look forward to driving significant value for shareholders in our mission to make every product smarter and more sustainable by utilizing the power of light and advanced materials.". In connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. commented Ram Ramkumar, Metamaterial's Chairman. You see, Metamaterial wants to list on a large US stock exchange, and to do this, its carrying out a reverse takeover with a small NASDAQ-listed US energy company named, Torchlight. TRCH could announce something along the lines of: "with the new interest in our company from investors, we have terminated the merger agreement and will continue to develop our projects.". While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Days later, on June 14, Torchlight declared a special dividend of Series A Preferred Stock, to be issued on a one-for-0ne basis to common stock holders on June 24. Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. It appears to only want the Nasdaq listing. Additional disclosure: I am not a financial adviser. There is no share available for short selling at Torchlight. All articles are my opinion - they are not suggestions to buy or sell any securities. Their technology can allow multiple transparent 5G antennas for IoT integration and their nanomaterials can improve the angular scan range of LIDAR used in self-driving vehicles. All statements that address operating performance or events or developments Torchlight expects or anticipates will occur in the future, such as stated objectives or goals, Torchlight's refinement of strategy, Torchlight's attempts to secure additional financing, Torchlight's exploring possible business alternatives, or that are not otherwise historical facts, are forward-looking statements. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. As a result of the transaction and our recent ATM offerings, META now has over $160 million in cash and a virtually debt free balance sheet with approximately 285 million shares issued and outstanding after the 2 to 1 reverse split. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. I view it as likely since there are no shares available for short-selling as of the time of writing, according to data from Fintel. The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. "I am excited to work with them and equally excited about the outcome for our faithful Torchlight shareholders. Torchlight and Metamaterial will be combined such that at closing, the former equity holders of Torchlight would own approximately 25% of the combined company with the former equity holders of Metamaterial owning the remaining approximately 75% of the combined company. I have been investing in stocks since 2007.I have no preference for sectors or countries - I'm as comfortable owning a part of a cement miner in Peru as holding shares in a wheat farming firm in Bulgaria. Entry into a transaction will be subject to satisfactory completion of due diligence by both parties, negotiation of a Definitive Agreement and audits of Torchlight and META. It's a. That equals $251.6/1.27 = $198M USD. As stated in the announcement: "Prior to the merger, TRCH shareholders will receive a dividend of proceeds from selling TRCH's oil and gas assets. have over 50,000 views each. With this reverse merger Metamaterials will be brought into the main market with Torch becoming the shell company. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. Whats behind the move? Orogrande Basin 134,000 acre lease 72.5% interest (97,150 net acres), the site has had several successful test wells drilled. This confirms to us that our analysis on TRCH is correct. Prior to closing, Torchlight must raise gross proceeds of at least$10 millionthrough the issuance of common stock or securities convertible into or exercisable for common stock, less the value of loans Torchlight has made to Metamaterial. At this point I think their customer service reps probably have PhDs. This discovery coincided with economic collapse of oil due to Covid crisis. Although Metamaterial has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. valued at much less. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution META is changing the way we use, interact and benefit from light. Post from CEO of Metamaterial saying first step of merger is complete. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. The company stated that it believes it will be positioned to capture a significant portion of this market by being able to mass manufacture, on a cost-effective basis, the required holographic optical components for the augmented reality smart glasses market. While they do have revenue and have partnered with major companies (Samsung, Boeing, Airbus), I am thinking of them more in terms of a pre-revenue IPO. "We recognize the significant value in having a national exchange listing in the United States that will provide META with better access to the capital markets," commented George Palikaras, Metamaterial's President and Chief Executive Officer. Sign up below to get this incredible offer! They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. Such statements are based on the current expectations and views of future events of the management of META and are based on assumptions and subject to risks and uncertainties. META has a growing patent portfolio and is currently developing new materials with diverse applications in concert with companies in the automotive, aerospace, energy, consumer electronics and. The same is happening at the moment with Torchlight. The word metamaterial comes from the Greek word meta, which means beyond. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (. Metamaterial has some interesting products at the moment. Liquidity is low on. Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals, down 67% from 2018, according to Rystad Energy, an Oslo-based research firm. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Metamaterial Inc. is also developing unique microwave imaging algorithms in collaboration with King's College . METAs unique Nanoweb films are 98% transparent, meaning that they can be placed on any glass. Electro Optical & Infrared Systems (EO/IR). Crypto. 3rd party valuation of potential recoverable hydrocarbons, 2. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. The Combined Company, formerly known as Torchlight Energy Resources, Inc., will at closing focus its business to align with the current business of META. This Transaction provides our shareholders with access to the multi-billion-dollar markets that Metamaterial serves and new applications that are being revolutionized with their sustainable technologies, while still allowing our Shareholders at closing of the Transaction to participate in the proceeds of our oil and gas asset divestitures., METAs management, led by George Palikaras, has built an extraordinary award-winning cleantech company whose proprietary advanced technologies address multiple markets and improve their customers capabilities, saidGreg McCabe, Torchlights Chairman. Copyright Many of META's functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. Metamaterials Technologies, known as META ( MMATF :US MMAT :CAN) is currently trading at $2.66 as of 02.27.2021. There are no shares of Torchlight available for borrowing. I am excited to work with the META team and equally excited about the outcome for our faithful Torchlight shareholders.. There can be no assurances that a transaction will be consummated as a result of the LOI. Torchlight also said on Friday it paid a special dividend to its stockholders of record on June 24 and that it implemented a previously approved 1 for 2 reverse stock split. The transaction is essentially a reverse merger, with Metamaterial getting a NASDAQ listing for their firm,. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. , this is what I like to see in a startup a rapidly growing market and great products and partnerships. If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. If a Definitive Agreement is entered into, it is expected that the closing of a transaction will include customary closing conditions, including NASDAQ and CSE approval and approval by the shareholders of both companies, in addition to the closing conditions described above. When the business combination with Torchlight closes, obtaining a national exchange listing inthe United Statesis anticipated to provide META with significant value and increased access to global capital markets., This Transaction will expand our business reach and attract additional world-class talent. The shares, however, gave up some of the gains after the company upsized its stock offering. All statements in this release that are not based on historical fact are "forward looking statements." Torchlights Shareholders will also be able to obtain a copy of such documents, without charge, by directing a request to:John A. Brda, President of Torchlight Energy Resources, Inc., 5700 W. Plano Parkway, Suite 3600,Plano, Texas75093; e-mail:[emailprotected]. CTO Jonathan Waldern stated, Under a new brand name, metaFUSION, we are now applying that proven technology and other functionality directly encapsulated into eyeglasses, to compliment waveguide-based displays similar to HoloLens.. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Shares of Meta Material Inc (MMAT.O) gave up premarket gains to fall 20% on Monday, the first day of trading after a merger that saw the niche hi-tech materials maker swallow Torchlight Energy . Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. The reason why investing in short squeezes is a bad idea is because they dont last long. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. This transaction is similar to the popular deals involving special purpose acquisition companies (SPACs). Torchlight Energy Resources, Inc. (TRCH), based inPlano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. Upon closing, these two bridge loans, including the aggregate principal and unpaid interest, are to be included in, and credited against, the$10 millionpre-closing financing described above, with such notes to be deemed cancelled and paid in full. All statements in this release that are not based on historical fact are forward looking statements. These statements may be identified by words such as estimates, anticipates, projects, plans, strategy, goal, or planned, seeks, may, might, will, expects, intends, believes, should, and similar expressions, or the negative versions thereof, and which also may be identified by their context. Liquidity is low on the OTC market and there is no data on the availability of Metamaterial for sale. This year is weird. Such persons can also read Torchlights Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019, for a description of the security holdings of its officers and directors and their respective interests as security holders in the consummation of the transactions described herein. - Andr Kostolany. If the dividend or share buyback yield is high - even better. Torchlight has assets focused in West andCentral Texaswhere their targets are established plays such as the Permian Basin. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Need more information or have an interview request? Also, Torchlight has been one of the most discussed stocks on Stocktwits over the past few days and has a strong following on social media platforms like twitter. Please disable your ad-blocker and refresh. The company hasn't made any significant progress since our report with selling or developing any of its oil and gas assets. Nasdaq This release includes forward-looking information within the meaning of Canadian securities laws regarding META and its business, which may include, but are not limited to, statements with respect to the terms and anticipated timing of the Proposed Transaction, the intention to raise equity capital, the potential continued listing on the NASDAQ, the disposition of Torchlight's oil and gas assets, the business strategies, product development and operational activities of META and Torchlight. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . At the time of the merger announcement, on the close of 12/14/20, Metamaterial was valued at much less. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known. special purpose acquisition companies (SPACs). This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by those sections. The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. Ive already covered one short squeeze selling opportunity in 2021. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the ability of the parties to reach agreement on definitive agreements, the ability of the parties to raise necessary equity capital, approval of the transaction and continued listing by the NASDAQ, approval of the Canadian Securities Exchange, receipt of shareholder approval and required third party and regulatory consents, the risk that Torchlight may not be able to dispose of its oil and gas assets on favorable terms or at all, risks related to the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business. Please. Torchlight available for borrowing. For further information: Investor Relations and Media Contacts: Graham Farrell, Harbor Access LLC (416) 842 9003[emailprotected], Mark Komonoski, Director Capital Markets and IRMetamaterial Inc. 877-255-8483[emailprotected], Torchlight Derek Gradwell Integrous Communications 512-270-6990[emailprotected],[emailprotected], Meta Materials Inc. The Proposed Transaction represents a strategic shift for Torchlight. Torchlights management will remain, in an advisory role focused on winding down Torchlights legacy business and maximizing the value obtained from the divestiture of Torchlights oil and gas assets. Valuation The value oil drilling acreage is a moving target after the price of crude oil started collapsing in March of 2020. Is there a short squeeze? Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. Except as otherwise required by the federal securities laws, Torchlight disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in its expectations with regard thereto, or any change in events, conditions, or circumstances on which any such statement is based. Through this reverse merger Torchlight receives a 25% stake in META. I have no business relationship with any company whose stock is mentioned in this article. Pertinent deal terms are as follows: Torchlight and Metamaterial invite all interested parties to view a webcast introduction of George Palikaras, CEO of META and an overview on META. As this is not investment advice anyways, here are some possible valuations. This transaction is similar to the popular deals involving. Torchlight Energy is currently an oil and gas exploration company. Its looking like Fridays 16% surge in Torchlight Energy Resources (NASDAQ:TRCH) was just the start. Do you remember the GameStop (NYSE:GME) short squeeze? The company added that capacity could be increased to 200,000 units per month with the addition of a second, eight-hour shift. In its own words, the firm specializes in the design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. Torchlight has engaged Roth Capital Partners as financial advisor and Stikeman Elliott LLP and K&L Gates LLP as legal advisors, and Metamaterial has engaged Hamilton Clark and Cormark Securities as financial advisors and Fasken Martineau DuMoulin LLP andWilson Sonsini Goodrich& Rosati P.C. This February META acquired Interglass Technology AG of Switzerland, their IP and over 70 patents. META has a growing patent portfolio with three core technologies; holographic, lithographic, and wireless sensing, designed for high volume applications. (5) NanoWeb - A Revolutionary Transparent Conductive Film - YouTube. There can be no assurances that the Transaction will be consummated. Founded META in 2011, prior to that he founded MediWise, a wireless medical sensor company, he was also an antenna design engineer with AceAxis. Our Tesla Roadster expertise is particularly unparalleled and our electronics lab offers advanced services including PEM repair and rebuilds, ESS Battery Pack repair and recovery, firmware upgrades, and a variety of aftermarket products. Higher field strength systems cost much more. In 2018 META was awarded "Best New Product in Commercial Aviation" by Aviation Week Network at the 63rd Annual Laureate Awards, for metaAIR, a Laser Strike Protection solution to protect pilots from harmful laser attacks without interfering with visibility. Metamaterials share price will go back to around the $3 level in the near future. It sounds like the merger vote will occur sometime around mid-March. The newly merged company begins trading today as the Nasdaq's first 'metamaterials' stock. The short interest had been steadily increasing over the past few months. Metamaterial designs, develops, and manufactures. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. Shareholders have approved the deal, whose terms stipulate that Metamaterial shareholders will own 75% of the combined company, while Torchlight shareholders get 25%. Intellectual Ventures' metamaterials-based system has some distinct advantages: The microwave beam can be focused and redirected with relatively high efficiency, and with no moving parts. Metamaterials are a subset of functional materials, according to the company. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements as a result of various factors, including risks associated with Torchlights ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas which demand could be materially affected by the economic impacts of COVID-19 and possible increases in supply fromRussiaand OPEC, the proposed business combination transaction with Metamaterial, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. META is headquartered inHalifax, Nova Scotiaand has R&D and Sales offices inLondon, UKand Silicon Valley.

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